Posted by Adam King on February 06, 2009
Another Excellent Friday
February 6, 2009 – On this excellent Friday we’re experiencing some pretty solid market action and even though prices for gold bullion are fluctuating up and down, the Certified Gold Exchange is seeing some solid increases in long-term investor demand for precious metals. There continues to be a mixed feeling about all investments in general which is probably one of the main reasons that gold exchange prices are fluctuating today but it’s next week’s predictions that have many people very interested in the market. Many financial institutions and banks as well as the Certified Gold Exchange is projecting that as a result of the safe haven buying this week that we could be seeing $1000 per ounce by next week as fears about the current economy continue to grow every single day. With so much financial instability in the market right now, it definitely makes sense that investors are flocking to a historically profitable and preservative investment like precious metals.
During midday trading we are seeing the spot price of the metal down a bit to around $912.80, a $1.70 or .19% drop for the trading day but still a $70.80 or 8.41% increase in the last 30 trading days. Long-term projections are still remaining bullish around the $2000 per ounce mark and anybody with investment experience knows that high-inflationary times call for high precious metal prices. I wish you the best luck when investing in metals and have a beautiful day.
Senior Staff Writer – Certified Gold Exchange
US Gold Market